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Pfizer & AstraZeneca agree over-the-counter Nexium

As reported by WorldPharmaNews, Pfizer and AstraZeneca have announced that they have entered into an agreement for the over-the-counter rights for NEXIUM (esomeprazole magnesium)

NEXIUM is a leading prescription drug currently approved to treat the symptoms of gastroesophageal reflux disease.

In the agreement to make it over the counter, Pfizer will acquire the exclusive global rights to market NEXIUM for the approved over-the-counter indications in the United States, Europe and the rest of the world.

Pfizer will make an upfront payment of $250 million to AstraZeneca, and AstraZeneca is eligible to receive milestone and royalty payments based on product launches and sales.

Tony Zook Executive Vice President of AstraZeneca’s Global Commercial Organisation said, ” AstraZeneca has long been a leader in the gastrointestinal sector, and we believe that an OTC version of NEXIUM will complement this globally successful prescription medicine and help bring relief to more patients around the world”